June 18, 2008

"Hershey cut its long-term earnings growth target on Tuesday and laid out a strategic plan to boost its biggest brands in the United States with more advertising and tighten development of new products."

Said another way, this means Hershey is going to focus on what they're best at...chocolate bars...instead of all the other cookies and various line extensions. Smart move if you ask us.

"David West, who was promoted to chief executive from chief financial officer last year, acknowledged that attempts to move into areas like cookies and snack bars hurt its mainstay products like Hershey bars and Reese's peanut butter cups."